SERIOUS MONDAY: WELLS FARGO SUPPORTS ENVIRONMENTAL PROJECTS

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Wells Fargo has loaned $28 million to two US companies that have projects that are producing environmental benefits in Panama and India.

The Robbins Company, based out of Solon, Ohio will receive $25 million to construct an irrigational tunnel under a wildlife refuge (Rajiv Gandhi Wildlife Sanctuary). It will provide water to over 500 villages in drought stricken areas.

The loaned will be guaranteed by Ex-Im Bank, which also awarded Robbins its 2007 Small Business Environmental Exporter of the Year Award.

The other $3 million went to Gunderboom, Inc., based in Anchorage, Alaska. They will be recovering 400 million board feet of hardwood from forests that were flooded and submerged during the construction of the Panama Canal.

“Wells Fargo HSBC Trade Bank is proud to support the export of goods and services that protect our environment,” said Sanjiv Sanghvi, President and CEO of Wells Fargo HSBC trade bank. “We believe this is an area of great opportunity for United States based companies.”

Dawn

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